07-09-2021, 19:32
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#108
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 67
Services: Premiere Collection
Posts: 42,155
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Re: This NI increase for Social/Health Care
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Originally Posted by pip08456
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Thank you for this - very much appreciated.
On page 20
Quote:
Case Study – Mary and Bob
Mary is a pensioner living in Cheshire with her husband, Bob. Together, they own a home worth £90,000 and have joint savings of £10,000. They both worked hard throughout their lives, planned carefully for their retirement and have a joint weekly income from pensions of £762. Mary has dementia and receives care in their home, but Bob is her main carer. Sadly, after a year Bob suffers a severe stroke and both Bob and Mary need to enter residential care.
Under the current system, if they both stayed in residential care for two years, Mary and Bob would have spent around £114,000 in total towards their care. They wouldn’t have got any state support until right at the end when they individually reached the Upper Capital Limit of £23,250, which would be based on half of their shared assets. They would be left with around £44,000 in assets.
Under the new system, once they both enter a care home, they immediately become eligible for some state support due to each of their £50,000 share of their wealth being below the new £100,000 Upper Capital Limit. Under the new system, they spend £66,000 in total for their care from their income and assets.
Over their combined care journeys, Mary and Bob save £48,000 from their assets and their income in the new system compared to the current system.
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